Ignis Petroleum Group
OTC Bulletin Board : IGPG

August 10, 2005 08:00 ET

Ignis Petroleum Group to Commence Drilling of Well with Industry Partner

DALLAS--(CCNMatthews - Aug 10, 2005) -

Ignis Petroleum Group (OTCBB:IGPG) is pleased to announce that it has entered into a participation agreement with an industry partner for a 25% working interest in a prospect located in Chambers County, Texas. The announcement was made today by Ignis president and CEO Michael P. Piazza.

The prospect covers 570 gross acres in Chambers County, Texas. The initial well will be a directional well to test the Nodosaria Sands and the Tex-Miss Sands (Frio) and will be drilled to a depth of 12,250' MD (TVD 11,150'). Drilling of the prospect is expected to commence in August of 2005.

About Ignis Petroleum

Ignis Petroleum Group is a Dallas-based oil and gas company commencing its business plan for the exploration, acquisition and development of crude oil and natural gas properties in the U.S. Company management is focused on building an energy portfolio that benefits from the maturation of new petroleum technologies (in particular seismic interpretation) and the availability of short "outsteps" in the same play as previously-discovered hydrocarbons. For further information visit www.ignispetro.com.

Safe Harbor for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in oil & gas exploration, the need to obtain additional financing, the availability of needed personnel and equipment for the future exploration and development, fluctuations in gas prices, and general economic conditions.

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